New iMac and problem with imovie 11

Hi,
I purchased my new iMac two days ago mainly to use iMovie.
But after editing projects for around 30mins it seems to freeze and requires a force quit. When I restart I can't edit or playback the project, almost as though it is locked.
I've tried deleting preferences for imovie and repairing through utilities. I've also tried deleting the projects and starting new ones but the same problem happens after about 30mins of editing.
Installed latest updates for OS X 10.7.1, and using imac with imovie 11
Could anyone help me with this?
I'm a brand new mac user and to encounter this problem after just one hour of use is quite frustrating.
Ps. I'm not sure if its related but in Finder on the left when all the places are listed, I don't see my username... not sure if it should be there?

Having spent more time in Apple Communities I am delighted to say I have sorted the problem:
Entered:
username : guest
password : guest
and I am now printing!
Happy days!

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